BitPay Introduces ‘Get Bits’: A Facebook Bitcoin Sharing App

BitPay Introduces ‘Get Bits’: A Facebook Bitcoin Sharing App

Jayanand Sagar | July 17, 2014 | 5:34 pm

Atlanta, Georgia-based BitPay has today introduced a new Facebook application that will allow users interested in bitcoin to get the digital currency from their very own friends over the social network.

Dubbed ‘Get Bits‘, the app is one of many solutions available for newcomers to bitcoin to get their paws on the highly talked about digital money.

From BitPay:

[blockquote style=”2″]We’re always looking to grow the Bitcoin space, and buying bitcoin can be the biggest hurdle to getting started. Get Bits is an easy way for newcomers to get bitcoin through their Facebook friends. As we release the API — and ultimately, standardize the decentralized protocol — Get Bits can be integrated into wallets to facilitate peer-to-peer exchange.[/blockquote]

They continue:

[blockquote style=”2″]There have been exciting developments in decentralized exchange, but we still have a lot of work to do. Because Bitcoin is one of the only forms of payment which cannot be fraudulently reversed, selling bitcoin usually requires some level of trust in the buyer. To deal with this, Get Bits currently leverages the world’s largest “web of trust”, Facebook. As better decentralized solutions emerge, Get Bits will continue to evolve.[/blockquote]

Users looking to get involved with the app can visit the Get Bits page at bitpay.com/getbits and sign in with their Facebook account. The user can then “flip the switch” and allow friends to get bitcoin from them. Upon signing in, users will be able to see which of their friends are using the app (if applicable).

BitPay concludes:

[blockquote style=”2″]One last note: we’re huge fans of privacy, and we’re vehemently against tracking bitcoin users or their activity against their will — that’s why we operate on-chain. But if you’re like us, both Facebook and the NSA already know you have bitcoin — why not let your friends in on it too?[/blockquote]

It’s an interesting idea, to say the least, but we’re not sure it will take off. What do you think?

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